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Dec 27, 2012
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government. >> so true. we also can look at the difference and say, well, maybe holiday discretionary spending wasn't as strong, but retail spending generally held up okay. maybe not the best sign tore some of the retailers, back up not a reason to completely lose faith in the u.s. consumer. we should point out this disparity we've seen where capital spending, goods for new capital orders have been weak and retail sales have been relatively strong. labor income has held up okay. frankly, when you look at 2013, the outlook for that to continue looks recently good. >> well, sure. and the other thing we'll look forward to is the number on jobless claims. they were back to their prehurricane level suggesting that the labor market hasn't fallen out of bed. there will be an interesting announcement coming out of the irs sometime between now and the end of the year which will be very important. they're going to give guidance to employers on what will be the tax withholding rates for 2013. under the laws, those with
government. >> so true. we also can look at the difference and say, well, maybe holiday discretionary spending wasn't as strong, but retail spending generally held up okay. maybe not the best sign tore some of the retailers, back up not a reason to completely lose faith in the u.s. consumer. we should point out this disparity we've seen where capital spending, goods for new capital orders have been weak and retail sales have been relatively strong. labor income has held up okay. frankly,...
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Dec 26, 2012
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government, i take that back, only can government, period, including the u.s. government turn a detour into a four-lane highway, okay? let's talk about infusion. governments tried to create faux guarantees when they set up the gses when they created the structure of special financing and faux guarantees whether they were applied or assumed, we all know how it turned out. taxpayers ended up getting the bill when government took over the space. and then we get all the faux guarantees of fixing the original faux guarantees as the intrusion really did get worse. i take you back to september of 2008 when the gses were put in the conservatorship and then treasury secretary paulson said the following quote. i attribute the need for today's action, talking about conservatorship, primarily to the inherent conflict and flawed business model embedded in the gse government sponsored enterprise structure and to the ongoing housing correction. well, first of all, how many experts have we had on lately that have said housing is doing much better. today's kate shiler seems to
government, i take that back, only can government, period, including the u.s. government turn a detour into a four-lane highway, okay? let's talk about infusion. governments tried to create faux guarantees when they set up the gses when they created the structure of special financing and faux guarantees whether they were applied or assumed, we all know how it turned out. taxpayers ended up getting the bill when government took over the space. and then we get all the faux guarantees of fixing...
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Dec 27, 2012
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but the government is 90% of the market. if you look at firms like ours we basically do ginnie mae and nonconfirming production. we'll do maybe a couple billion dollars this year. that's a drop in the bucket. this is still completely a government market. >> i asked john this question earlier, talking about some of the regulations from dodd-frank which haven't come into effect yet. of the 200 plus that are not on the books, what's the one or two that you're looking at that you think are a game changer. >> in terms of what? >> that may ultimately change some of the derivative stuff, what you think the impact of both -- >> we've talked about this. volcker has taken a lot of liquidity out of the market just in terms of -- >> but none of this is on the books. nobody's actually -- it's not there yet. >> the behavioral changes have already come because the lawyers have told the banks you have to live with the volcker rule. they've already done it. my big fear, though, is that the conservatives are trying to winnow down fannie, fred
but the government is 90% of the market. if you look at firms like ours we basically do ginnie mae and nonconfirming production. we'll do maybe a couple billion dollars this year. that's a drop in the bucket. this is still completely a government market. >> i asked john this question earlier, talking about some of the regulations from dodd-frank which haven't come into effect yet. of the 200 plus that are not on the books, what's the one or two that you're looking at that you think are a...
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Dec 26, 2012
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once they get back from holiday in march and really the new transitional government -- the government that has been the transitional government starts pulling the levers, we think we'll get some stimulus. it will feed into the global economy. europe is still on the mend, but it is doing what it needs to do. the u.s. has been growing. we've got housing, we've got automobiles. both have put in good numbers and we would expect that our economy will be able to weather the rockiness near term and benefit from an agreement on this fiscal cliff. >> steve weiss quickly. >> john, how do you see it playing out? we've seen a lot of ends being front end loaded only to fall off and maintain the back end. with everything that's going on in terms of spending, cutting back from europe and from u.s. standpoint. how do you see it playing out next year in terms of the market action? >> in terms of the market action, what we would expect, the first quarter a lot is going to depend on what happens with the fiscal cliff. as i said before, if we move into a recession, you're not going to get a 1585 target o
once they get back from holiday in march and really the new transitional government -- the government that has been the transitional government starts pulling the levers, we think we'll get some stimulus. it will feed into the global economy. europe is still on the mend, but it is doing what it needs to do. the u.s. has been growing. we've got housing, we've got automobiles. both have put in good numbers and we would expect that our economy will be able to weather the rockiness near term and...
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Dec 28, 2012
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that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to raise and when to lower at this point. >> president obama kept bush's taxes in for two years. >> i know. >> but suddenly, you know, democrats like you love the 98%, and you hate the 2%. it's very weird. >> tell him, joe. >> don't hate the 2%. i'm not a self-loathing hater. i don't hate the 2%. >> hey, joe, before we go, you mentioned -- you heard jimmy talking about the decider. that made me think of 4-3. but my heart and mind are with 41 and you worked for him. do you know anything? >> nothing new. we're just keeping him in our prayers.
that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to...
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Dec 24, 2012
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unlike american chewing tobacco that does cause cancer of the mouth, swedish snus is regulated by the government as a food product, so the levels of toxins and carcinogens are kept to a bare minimum. that's why doctors in sweden recommend snus to people who simply can't stop smoking even though it's clearly an addictive substance. they're following a controversial medical practice called harm reduction. and groups like the royal college of physicians are pushing it for smokers, saying that less hazardous products like snus "can save millions of lives." >> at this point in time, i cannot say that these products are safer. >> but in the u.s., health officials like karla sneegas don't like the idea of harm reduction, where you use another tobacco product to fight smoking. she runs the anti-tobacco program for the state of indiana. >> i think that these products are going to end up leading to dual use of cigarettes and smokeless tobacco products. and we have no idea whatsoever what is the outcome, what's the health impact, of someone not quitting and using both products. >> in other words, you're sa
unlike american chewing tobacco that does cause cancer of the mouth, swedish snus is regulated by the government as a food product, so the levels of toxins and carcinogens are kept to a bare minimum. that's why doctors in sweden recommend snus to people who simply can't stop smoking even though it's clearly an addictive substance. they're following a controversial medical practice called harm reduction. and groups like the royal college of physicians are pushing it for smokers, saying that less...
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Dec 26, 2012
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there's been a lot of issues around the government. i think the instakt around the government and people's predicting how long it will take to push back reforms has impacted the market quite a bit. i think one thing under the surface in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate analyst in india tracking markets, technology was considered the engine of growth for the country and one of the bright spots for the market. is technology still one of the areas you are tell clients to invest in in india, or what are the sectors you're looking at? >> i think there's two sectors whether you look at india, china, or asia. there's two sectors we like. it's technology, as you said. i think that's one that -- it's a bright gem. you know, it went from, in india, from a bpo outsourcing business and has grown to an innovation business where bran
there's been a lot of issues around the government. i think the instakt around the government and people's predicting how long it will take to push back reforms has impacted the market quite a bit. i think one thing under the surface in india and china that all investors need to be aware of is the fact that corporate debt is now really building up to almost unhealthy levels. and i would keep an eye on where corporate debt levels are in companies investing in. >> when i was a corporate...
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Dec 28, 2012
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, we'll get so much increased revenue coming in, that will make up for the cuts in what the federal government givers us. >> governor, how do you think this ends up playing out over the next few days? do you think we'll end up with a deal by december -- or midnight on december 31st? and if you're going to go that far, tell us what kind of deal do you think it would be? a skinny deal, a really skinny deal, or a more comprehensive deal. >> first of all, it's clear from what came out of the meeting, the senate will have to reach an agreement and pass a bill that the house can deal with, starting sunday night. the senate's got to go to work, probably obviously tomorrow and sunday and put something together, a compromise that suits them and suits the president. they have to send it over to the house. the reason it's important, house republicans then have a little bit of cover. because their senators or a significant number of them, have voted for the compromise. it makes it a little easier for them. but guys, be down cast because it will be a really skinny deal that won't mean much. we'll have just
, we'll get so much increased revenue coming in, that will make up for the cuts in what the federal government givers us. >> governor, how do you think this ends up playing out over the next few days? do you think we'll end up with a deal by december -- or midnight on december 31st? and if you're going to go that far, tell us what kind of deal do you think it would be? a skinny deal, a really skinny deal, or a more comprehensive deal. >> first of all, it's clear from what came out...
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Dec 28, 2012
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we have debt that's being issued by governments, by corporations. will we need a capital markets business? even though the capital markets businesses aren't beating their cost of capital right now what we're seeing is we're seeing compensation levels coming down, increasing the margins in it. we're seeing inventory levels come in. that means that the amount of capital that they're putting, that they have there is dropping, which of course would be an improvement in roes. all of this leads to a world of sort of a repricing of the capital markets. wider bid offers treads, less tratding volume, less risk taken but will there be a capital markets business? the answer is yes. unfortunately right now the issue we have is the fiscal cliff which makes everything uncertain at least through march. a lot of washington circus going on. we, you know, i think it's pretty reasonable to assume that no politician, no libertarian would ever want the u.s. to default on its debt. so by march we should have a solution to that. then what we are is we're back in an enviro
we have debt that's being issued by governments, by corporations. will we need a capital markets business? even though the capital markets businesses aren't beating their cost of capital right now what we're seeing is we're seeing compensation levels coming down, increasing the margins in it. we're seeing inventory levels come in. that means that the amount of capital that they're putting, that they have there is dropping, which of course would be an improvement in roes. all of this leads to a...
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Dec 28, 2012
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government bonds still have a role. government bonds with credit on top if you like. so we were one of the first private banks to buy ultra long corporate bonds normally held by pension funds reflecting the fact that you have above average risk premiums and potential risk correlation. so that's attractive. an area that's really suffered, ctas. >> ctas? >> ctas really suffered. >> what are ctas? >> commodity trading advisers is what they're short of. it's a style of hedge fund management and it did very well in '08 and '01 or '2. they've struggled for a couple of years. but still importantly they still have a negative correlation. >> i'm just wondering what happens with the cliff impact on gold. you know, if we find the cliff solution, if we find a mediocre solution, if we find no solution, are we going to see a huge swing in the price of gold? >> well, gold has a safe haven role. it has had a safe haven role just like other assets that you mentioned that could be hemgs against equity movements such as these safe haven bonds such as german ones, u.s. ones, maybe japane
government bonds still have a role. government bonds with credit on top if you like. so we were one of the first private banks to buy ultra long corporate bonds normally held by pension funds reflecting the fact that you have above average risk premiums and potential risk correlation. so that's attractive. an area that's really suffered, ctas. >> ctas? >> ctas really suffered. >> what are ctas? >> commodity trading advisers is what they're short of. it's a style of hedge...
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Dec 26, 2012
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the government, easy. let's put it off. it's not their money. they don't feel the same intensity handicapping whether something should continue or not. these are things we need to grapple with. if we just have rigid ideologicallies, under no condition go over the cliff we become another aspect of the propaganda i'm so sick of that reached its crescendo at midnight november 5th. >> the way i think future generations, if i were to write an economics book, the way that fracking and horizontal drilling, we start with, you know, the notion we're running out of oil, it's going to be gone, we need the government to create the next energy industry. we will spend all this money on these renewable things. it will be great. we know how to do it, we have experts. then a disruptive market driven technology comes along that generates $2 natural gas makes all that stuff or basically puts it into the future and the money just went down the drain. a case study the way dwogovernm planning and infrastructure spending, you will get 10 cents of every dollar you spen
the government, easy. let's put it off. it's not their money. they don't feel the same intensity handicapping whether something should continue or not. these are things we need to grapple with. if we just have rigid ideologicallies, under no condition go over the cliff we become another aspect of the propaganda i'm so sick of that reached its crescendo at midnight november 5th. >> the way i think future generations, if i were to write an economics book, the way that fracking and...
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Dec 24, 2012
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no government can boast of having done so. the reforms that i haven't completed are the judicial, fiscal and political reforms. it is a mess, the use of the money that the publioliticians . these are the things that have rightly taken italians away from this political class and the policy. there are other reforms in our agenda. we will succeed if one can make the country able to compete with other western democracies. all this will be possible only if we will set the instrument of government that i mentioned before. >> and that was the former italian prime minister sylvia berlusconi speaking to andrea cabrini. with christmas less than a day away, parents everywhere have been facing the daunting task of buying their children presents. i bought presents for a 4-year-old and a 7-year-old boy. i had no clue what i was doing. >> so brave going into a store before christmas to buy children's presents. >> it was fantastic. they're friends' boys, but we made paper planes from like 6:00 a.m. in the morning throughout the day. >> i'm he
no government can boast of having done so. the reforms that i haven't completed are the judicial, fiscal and political reforms. it is a mess, the use of the money that the publioliticians . these are the things that have rightly taken italians away from this political class and the policy. there are other reforms in our agenda. we will succeed if one can make the country able to compete with other western democracies. all this will be possible only if we will set the instrument of government...
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Dec 22, 2012
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how is your party going to get out from under that label that they're still the party of big government. >> well, a couple things. first of all, remember that in the aftermath of this election, the president's message has resinated with the american people and the ability of republicans in congress, a more fundamental problem the republicans have in that the party, half of -- most of -- the fight is within the republican party, which makes it very hard for them to get out a message. my point being, as democrats, you almost just have to stand back and let the chaos speak for itself on the republican side. i think that what you'll see from democrats is, you know, you'll continue to hear the language that, you know, everybody's open to having a conversation, a balanced approach and all of that, but again, at the end of the day, i think part of the challenge that the republicans continue to have is there's not one message. not a unified message. and this debacle that we've just saw, you know, last night doesn't do much to instill much confidence that boehner himself can actually drive a mes
how is your party going to get out from under that label that they're still the party of big government. >> well, a couple things. first of all, remember that in the aftermath of this election, the president's message has resinated with the american people and the ability of republicans in congress, a more fundamental problem the republicans have in that the party, half of -- most of -- the fight is within the republican party, which makes it very hard for them to get out a message. my...
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Dec 26, 2012
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that's why we have government. fix it. a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. >>> as the holiday season comes to a close, the early numbers suggest that what started out strong is now ending in a whimper. mastercard spending cost unit estimates that sales rose 0.7% over the past two months compared to a year ago, which would be the weakest pace of annual growth since 2008, at the height of the financial crisis. earlier this morning, cnbc spoke with michael mcnamara from mastercard. >> beginning of december when we start to see sales come down, the confidence numbers also start to come down. it's something that the media coverage really has brought home and really clarified what the fiscal cliff means to personal finance. that debate really seems to be acting, it's almost creating a sense of gravity that's p
that's why we have government. fix it. a raise your rate cd. tonight our guest, thomas sargent. nobel laureate in economics, and one of the most cited economists in the world. professor sargent, can you tell me what cd rates will be in two years? no. if he can't, no one can. that's why ally has a raise your rate cd. ally bank. your money needs an ally. >>> as the holiday season comes to a close, the early numbers suggest that what started out strong is now ending in a whimper....
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Dec 29, 2012
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the amendment which had govern the a lot of u.s.-russian/soviet relations going back to the 1970s had to be replaced. it was replaced in congress by the act which set russia's worst human viets violators there should be consequences when it comes to getting visas. vladimir mute indecided to lash out to the united states by pointing a figurative rifle at the head of russia's orphans. >> we improve russia's trade relation with us, officially and then he gets upset because buried within there is a little clause that says, as you point out, the worst human rights violators should have trouble getting into the united states. how far should we go, throw, right? i brought this up last night and i'll bring it up again with you. in the united states we believe that people all over the world have certain rights regardless of geography, regardless of ethnicity, regardless of religion. they are inalienable and it is unfathomable to us that there are parts of the world where they don't believe that. it's amazing, but true. how far do we go in pu
the amendment which had govern the a lot of u.s.-russian/soviet relations going back to the 1970s had to be replaced. it was replaced in congress by the act which set russia's worst human viets violators there should be consequences when it comes to getting visas. vladimir mute indecided to lash out to the united states by pointing a figurative rifle at the head of russia's orphans. >> we improve russia's trade relation with us, officially and then he gets upset because buried within...
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Dec 28, 2012
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you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here is over the long-term. naturally, sometime during january if we go over the cliff which is more of a hill, these congressmen will come to their senses. they've gone completely crazy and apparently if you vote for something on december tlonl, then it's okay with grover nor quist and if it's after december 31st, it's something else. look, a pledge is one thing, but look right now we've been spending money on a credit card nationally for the last ten years without paying for it. both parties have been doing it. it's time to pay down. spend less and we have to raise more money. >> that's
you have forest service, 30% of the land is owned by the federal government. so there's a lot of federal dollars that come to montana. that's part of the system. >> what would be the economic impact, going back to what the farmer was telling us about the situation, if estate taxes go up 55%. we're going to see farmers cutting back on the size of their farms, some may even go out of business. what's the economic impact and how can you mitigate that, governor? >> the difficulty here...
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Dec 24, 2012
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that's governing from fear. as opposed to governing from leadership. and somebody else on a show one day said a lot of these republicans really believe, this is what they really, really believe in. that's great. but at some point one side or the other, and in fact both, are going to have to give a little. >> kiki, i would be -- i would think you would be sensitive to talking about leadership. i mean, when you say that, you don't hear irony? that's the -- maybe it's just the other side, the republicans talking about president obama, but, you in the last six, the last five years, have you seen a president that comes together and leads both? >> yeah. >> you have? >> have you, tony? >> i've seen a president who went out and campaigned on a certain series of things that he believed were important for the country and that he wanted to do, and he went and he pursued them. and that's leadership. >> he's pursuing them. but i think everybody's pursuing what they have to pursue. you've been listening to us for the last few months. i think we've been saying that t
that's governing from fear. as opposed to governing from leadership. and somebody else on a show one day said a lot of these republicans really believe, this is what they really, really believe in. that's great. but at some point one side or the other, and in fact both, are going to have to give a little. >> kiki, i would be -- i would think you would be sensitive to talking about leadership. i mean, when you say that, you don't hear irony? that's the -- maybe it's just the other side,...
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Dec 26, 2012
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the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in wealth very quickly if we get the economy back to where it should be. >> there's a very good article on cnbc.com about the possibility that congress might decide to start tax is employer-sponsored health insurance. do you think that's a possibility, and what impact would that have on you? >> everything needs to be on the table. if we're going to have a good solution that gets at our deficit and reduce our debt everything has to be on the table and we'll deal with it. it's great to have rules. we just like to know what they are so we can make the right investments moving forward. >> even if it puts us in a cl
the reductions in spending over time can happen over time, the way our government keeps track is over a decade. >> right. >> so we don't need to do it all today, and as far as higher taxes go, there's a group of people who will sign this pledge not to raise taxes, and, you know, more than two-thirds are millionaires who said, you know what, we'll pay more taxes because in the end analysis, the investment we would make in paying more in taxes to get the economy going will return in...
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>> well, this is a disaster for state and local units of government. the first order of effect is that the cost of infrastructure becomes much, much higher. costs of financing go up. the availability of investors declines. interest rates rise for municipal issuers. and so what happens to all that higher tax-exempt interest cost that issuers have to bear? it's ultimately borne by the taxpayer themselves. so really, this is just a transference of the taxes and subsidy back onto the shoulders of the regular property tax and income taxpayer at the local level. >> wow. a lot to keep track of. chris, thanks for giving us your thoughts this morning. >> thank yhankery much. >>> gas prices at the lowest level we've seen in more than a year. what does 2013 hold for energy. find out after the break. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your
>> well, this is a disaster for state and local units of government. the first order of effect is that the cost of infrastructure becomes much, much higher. costs of financing go up. the availability of investors declines. interest rates rise for municipal issuers. and so what happens to all that higher tax-exempt interest cost that issuers have to bear? it's ultimately borne by the taxpayer themselves. so really, this is just a transference of the taxes and subsidy back onto the...
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Dec 27, 2012
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to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top of all that, true. >> not such a crummy year for japan. japanese stocks rallying you can the yen continuing its slide against the dollar in all the major currencies, in fact. asian markets mixed overnight trading. the nikkei climbing to a closing level not seen since just before the march 2011 earthquake, marking a third day of gains, mostly drive bine hopes for a new stimulus policy. the yen is sitting closes to the lowest level since september 2010 against the dollar. interesting here because now a lot of people are saying the best or the hottest trade in 2013 will, in fact, be long japanese stocks
to think that the government, federal government certainly was closed on monday and tuesday, some of the state government was closed for both days, one of those days as well, saying maybe it came in a little bit light. some interpretation but funny to see all the headlines crossing this morning saying the futures were moving based on claims or the treasuries based on claims numbers and not what was going on on the fiscal cliff. >> a crummy start to the year we get a fourth strike on top...
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Dec 24, 2012
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stay way from government bonds that mature more than five years out and your 401(k) plans, get out of all of your bond funds, equities will rise in 2013. even though the economy is in a terrible position, stocks will rise, bonds will fall in value. stay away from bonds. >> all right, we will watch that. bob, jump in and tell us about the action on the street. down 51 point at close. was that the low, bob? >> no, not quite. we were just a little bit lower than -- take a look the a dow and i will show you. by the way, bonds collapse was the big call of 2012, and spectacularly wrong for a lot of people. but that's still on for a lot of people. there you see, just off of the lows there. maybe about 60-something is the bottom on the dow jones investment average. trading shortened by the holiday. material stocks led the way and of course some other stocks, consumer discretion is up. retailers add good day. crude was down. tech was down. microsoft had a tough day. there is concerns about sales of that windows 8 product. hewlett-packard on a down day. research a bit on the thin side. tjx, gap
stay way from government bonds that mature more than five years out and your 401(k) plans, get out of all of your bond funds, equities will rise in 2013. even though the economy is in a terrible position, stocks will rise, bonds will fall in value. stay away from bonds. >> all right, we will watch that. bob, jump in and tell us about the action on the street. down 51 point at close. was that the low, bob? >> no, not quite. we were just a little bit lower than -- take a look the a...
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the federal government tested toyota. they said it was floor mats or sticky throttle or something like that and i believed the government. >> 7,000 miles later on the day after christmas, she says she was pulling in to a parking spot at a local mall, gently riding the brakes when she says -- well, take a listen. >> the car just lurched forward and hit the cement wall in front of us. >> she jammed on the brakes so hard, she says she strained ligaments in her foot causing massive swelling. when she called the dealership, the salesman insisted she call a toyota company salesman. >> you will not drive this again? >> i will not drive it again. >> toyota never conceded. there was an internal document written in japanese with english translation that shows in one instance during pre-production testing an electronics software problem was discovered. toyota says it has nothing to do with unintended acceleration. other safety experts disagree. drew griffin is here tonight. first a big settlement earlier this month and now this. is
the federal government tested toyota. they said it was floor mats or sticky throttle or something like that and i believed the government. >> 7,000 miles later on the day after christmas, she says she was pulling in to a parking spot at a local mall, gently riding the brakes when she says -- well, take a listen. >> the car just lurched forward and hit the cement wall in front of us. >> she jammed on the brakes so hard, she says she strained ligaments in her foot causing...
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Dec 29, 2012
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it's about the role of government in americans' lives. lower taxes versus more of a social safety net. and every time they come close to a deal it falls apart because they have this fundamental disagreement about ideas. that's how we got here. they cannot agree on this basic negotiation over this ideological divided america, randi. >> so how likely is it we will go over the fiscal cliff. i'm curious what the mood is like in washington right now. >> there is is an infinitesimal increase in optimism because of the mood out of that meeting today, but i still would say the odds -- the people who are placing bets in this town still expect that the nation will go over the fiscal cliff. so still a little bit more hope than when we woke up this morning but no one is counting on being off on new year's eve. randi. >> jessica, thanks. more now on the raw politics with "new york times" columnist ross douthat the and cornell. the president said he wanted to see a straight up-or-down vote. as we mentioned that, will happen on monday in the senate. he
it's about the role of government in americans' lives. lower taxes versus more of a social safety net. and every time they come close to a deal it falls apart because they have this fundamental disagreement about ideas. that's how we got here. they cannot agree on this basic negotiation over this ideological divided america, randi. >> so how likely is it we will go over the fiscal cliff. i'm curious what the mood is like in washington right now. >> there is is an infinitesimal...
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Dec 29, 2012
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while it seems silly and petty right now is about the fundamental difference, the role of government in americans' lives. lower taxes versus more of a social safety net. and every time they come close to an agreement, it falls apart because they have a fundamentally different idea on the issues. they have this divide in america, randy. >> so what happens next? how likely is it that we'll go over the fiscal cliff? i'm curious about the mood in washington right now. >> there is an increase in optimism because of the mood out of that meeting today. but i still would say the people who are -- placing bets in this town still expect that the nation will go over the fiscal cliff. so still a little bit more hope than what we woke up this morning, but no one is counting on being off on new year's eve. >> randy. >> jessica, thank you, more now on the raw politics, good to see you both. cornell, let me start with you here, the president said he wanted to see a straight up or down vote. as we mentioned that could happen in the senate. we could lose the up or down vote. >> you are going to see so
while it seems silly and petty right now is about the fundamental difference, the role of government in americans' lives. lower taxes versus more of a social safety net. and every time they come close to an agreement, it falls apart because they have a fundamentally different idea on the issues. they have this divide in america, randy. >> so what happens next? how likely is it that we'll go over the fiscal cliff? i'm curious about the mood in washington right now. >> there is an...
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the federal government tested toyota. they said it was floor mats or a sticky throttle or something like that and i believed the government. >> 7,000 miles later on the day after christmas. she said she was pulling into a parking spot at a local mall gently riding the brake, she says -- take a listen. . >> the car lurched forward and hit the cement wall in front of us. >> she strained ligaments in her foot causing massive swelling. the dealer insisted she call the toyota contain lawyer. >> and you won't drive this again? >> i will not. >> toyota has never conceded that there was a problem. but drew found a document that is written in japanese and english translation that shows one instance what antwonic software problem was discovered. toyota says this has nothing to do with unintended acceleration. other experts disagree. drew griffin is here. first a big settlement earlier this month and now this. >> from the beginning the company maintained it doesn't have a problem. certainly nothing wrong with the electronic throttle
the federal government tested toyota. they said it was floor mats or a sticky throttle or something like that and i believed the government. >> 7,000 miles later on the day after christmas. she said she was pulling into a parking spot at a local mall gently riding the brake, she says -- take a listen. . >> the car lurched forward and hit the cement wall in front of us. >> she strained ligaments in her foot causing massive swelling. the dealer insisted she call the toyota...
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a government spokesman says the former south african president is receiving treatment at his home. mandela is said to be resting and in good spirits. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes to make them feel better. ♪ you make me happy [ female announcer ] that's why you choose children's tylenol. the same brand your mom trusted for you when you were young. ♪ how much i love you [ humming ] [ female announcer ] children's tylenol, the #1 brand of pain and fever relief recommended by pediatricians and used by moms decade after decade. [ humming ] >>> we have this just in to cnn. you're looking live at air force one as it lands. just back from hawaii. the president had to cut short his vacation there. his holiday vacation so he could deal with the looming fiscal cliff. all eyes are
a government spokesman says the former south african president is receiving treatment at his home. mandela is said to be resting and in good spirits. bye dad. drive safe. k. love you. [ chirping, buzzing continues ] [ horn honks ] [ buzzing continues ] [ male announcer ] the sprint drive first app. blocks and replies to texts while you drive. we can live without the &. visit sprint.com/drive. ♪ you make me happy when skies are gray ♪ [ female announcer ] you know exactly what it takes...
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. >> i would bet on a lot more indebtedness by the federal government, and i would also add a prayer that the democrats and republicans would work together to avoid that. we have just got to get together. disaster is not red or blue. it's going to be american, and we don't want it. >> and we don't want to cash in our chips, but that's the final hand. our thanks to all of our guests for being here and to you for watching. on behalf of all the folks at "ac 360" and cnn, i'm tom foreman wishing you all of the best and none of the worst in 2013. >> hello. this is cnn's top ten of twenty twelve. this hour we look at the stories that captured our attention. what we see as the biggest stories around the world. crime, money, weather, and even the biggest scandals. and the big reveal of the most intriguing people of the year as chosen by you. we begin with a topic that dominated our coverage for most of the year. here is candy croley with the top ten political stories. >> picking the top ten moments of an election year is like finding your favorite grain of sand on the beach. there are an imp
. >> i would bet on a lot more indebtedness by the federal government, and i would also add a prayer that the democrats and republicans would work together to avoid that. we have just got to get together. disaster is not red or blue. it's going to be american, and we don't want it. >> and we don't want to cash in our chips, but that's the final hand. our thanks to all of our guests for being here and to you for watching. on behalf of all the folks at "ac 360" and cnn, i'm...
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Dec 23, 2012
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that governments don't make the right decisions. the city of chicago famously struggled with its public/private partnership on its parking meters. in 2008, the city leased its system to a group of private investigators. they did a poor job of managing the transition. there were steep rate hikes and confusion and it resulted in the downgrade of the city's credit rating. i know, governor, that's not your watch, not one of your projects. >> no, that's right. >> what are the lessons of that type of thing for your own initiatives? >> you got to be very careful. you know, the city also did one with the skyway, a bridge across from chicago to indiana. that was done in a better fashion. if it's not carefully done, it can really backfire. so that's why we take each step and do it in a very reasonable sound way. we're embarking on this. this is brand new for our state of illinois. we do see, for example, the federal gas tax not just being able to finance the kind of infrastructure and highway and bridge improvement and expansion we've had ove
that governments don't make the right decisions. the city of chicago famously struggled with its public/private partnership on its parking meters. in 2008, the city leased its system to a group of private investigators. they did a poor job of managing the transition. there were steep rate hikes and confusion and it resulted in the downgrade of the city's credit rating. i know, governor, that's not your watch, not one of your projects. >> no, that's right. >> what are the lessons of...
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i think the government should have stayed in place and kept working on it. as a freshman member of the congress, i don't have the pull or the power to say when we're going to be there, when we're not, but at the u.s. house of representatives has acted, we're waiting for the senate to act and i believe that as soon as they act, we'll be back in town to find some forge, some pathway forward. >> well, a senior white house official told cnn tonight to that point, they said we believe strongly a reasonable package can get majorities in both houses. the only thing that would prevent it is if speaker mcconnell and boehner don't cooperate rate. do you think mcconnell and boehner are in the mood to cooperate with president obama? >> i do believe they're in a mood to cooperate. speaker boehner's talked for a very lopg time about a grand bargain, a big deal, about trying to find some major solution going forward. but the senate hasn't acted on anything, so i think we have to be careful on just placing the blame on mcconnell or boehner. without adding in to this mix, se
i think the government should have stayed in place and kept working on it. as a freshman member of the congress, i don't have the pull or the power to say when we're going to be there, when we're not, but at the u.s. house of representatives has acted, we're waiting for the senate to act and i believe that as soon as they act, we'll be back in town to find some forge, some pathway forward. >> well, a senior white house official told cnn tonight to that point, they said we believe strongly...
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the government has promised to ban the use of all wild animals in england. >>> how is this? >> not very much to a father. >> free con dms to high schoolers? the city of philadelphia says it's to help stop a health crisis there. but is it just promoting sex? meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the all-new 47 combined mpg c-max hybrid. alriwoah! did you get that? and...flip! yep, look at this. it takes like 20 pictures at a time. i never miss anything. isn't that awesome? uh that's really cool. you should upload these. i know, right? that is really amazing. the pictures are so clear. kevin's a handsome devil that phone does everything! search dog tricks. okay, see if we can teach him something cool. look at how lazy kevin is. kevin, get it together dude cmon, kevin take 20 pictures with burst shot on the galaxy s3. with odor free aspercreme. powerful medicine relieves pain fast, with no odor. so all y
the government has promised to ban the use of all wild animals in england. >>> how is this? >> not very much to a father. >> free con dms to high schoolers? the city of philadelphia says it's to help stop a health crisis there. but is it just promoting sex? meet the five-passenger ford c-max hybrid. c-max says ha. c-max says wheeee. which is what you get, don't you see? cause c-max has lots more horsepower than prius v, a hybrid that c-max also bests in mpg. say hi to the...
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americans like government. what we have for the last 30 years done is say we're going to have low taxes but we still wants lots of government and we made up that difference by borrowing. and i think there's one part of what john boehner says, which is quite right. you can't keep doing this forever. at some point you've got to get that straightened out. the problem is the republicans realize that large growth of government is pretty popular. that's why they don't identify specific cuts p. >> right. they say we'll cut this amount of money but nobody will tell you where they'll cut. the low-hanging fruit is gone. >> the only place you could find something is, again, it gets to the role of government, the more interesting discussion, which is the p you hut health care costs by saying we're going to improve quality but reduce costs. you can do that, but you're going to have to have panels, they call them death panels or whatever you want, but panels that say, look, this stuff is not worth it. we're not going to reim
americans like government. what we have for the last 30 years done is say we're going to have low taxes but we still wants lots of government and we made up that difference by borrowing. and i think there's one part of what john boehner says, which is quite right. you can't keep doing this forever. at some point you've got to get that straightened out. the problem is the republicans realize that large growth of government is pretty popular. that's why they don't identify specific cuts p....
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>> i believed the government. >> 7,000 miles later on the day after christmas. she said she was pulling into a parking spot when take a listen. the car lerched forward and hit the cement wall in front of us. she strained ligaments in her foot causing massive swelling. >> and you won't drive this again? >> i will not. >> toyota has never concede d that there was a problem. but drew found a document that showed in one instance that a problem was discovered. toyota says this has nothing to do with unintended problems. drew first a big question. >> from the beginning the company maintained it doesn't have a problem. certainly nothing wrong with the system. the company said it was three things. operator error as they said was tanya's case. she stepped on the gas instead of the break. >> here is what the officer said in a statement today. this was a difficult decision especially since evaluations have confirmed the safety of the si systems. >> so it is a way that the company says we are going to put it behind us and keep the secrets out of the court. >> all right drew
>> i believed the government. >> 7,000 miles later on the day after christmas. she said she was pulling into a parking spot when take a listen. the car lerched forward and hit the cement wall in front of us. she strained ligaments in her foot causing massive swelling. >> and you won't drive this again? >> i will not. >> toyota has never concede d that there was a problem. but drew found a document that showed in one instance that a problem was discovered. toyota...
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that means the federal government. the president has called for a $60 billion recovery package and democrats have done just that but there is one problem, pork and a lot of it. is it larded up with a lot of non-sandy costs including $150 million for fisheries in alaska and $41 million for military bases including guantanamo bay and you can't get much further from the jersey shore. republicans refused the package and proposed a $24 billion alternative. it cuts $13 billion set aside to protect against future disasters. the solution should be simple, cut the pork and keep the relief on track. but if republicans and democrats can't agree on disaster relief how can they find common ground on entitlement reform and tax reform and avoiding the fiscal cliff. it's a reminder of the division and disfunction in d.c. the crippling disconnect from the common sense concerns of the american public. piers morgan is next. and one more thing...hurry. get a focus with 2000 cash plus 500 year end bonus cash with no charge sync and sound d
that means the federal government. the president has called for a $60 billion recovery package and democrats have done just that but there is one problem, pork and a lot of it. is it larded up with a lot of non-sandy costs including $150 million for fisheries in alaska and $41 million for military bases including guantanamo bay and you can't get much further from the jersey shore. republicans refused the package and proposed a $24 billion alternative. it cuts $13 billion set aside to protect...
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and russia in november governing u.s. adoptions to russia, putting out responsibilities for both sides. so what they're saying is, let's please stick to that agreement. they're in close touch with those families, and they're hoping that at least these 50 or some odd cases should be resolved. they're asking parents that are in the pipeline, stay in touch with your adoption agency and also look at adoption.state.gov. we'll put that on our website. that's where parents can get the very latest information about this crisis. >> all right. elise, thank you very much. appreciate it. >>> americans whose adoptions are in imbow are very worried. they're even desperate for information. i want to talk to a family via skype. this is from dover, new jersey. this is jenny and josh johnston. they are in the process of adopting a child from russia. thank you very much for joining us here. i can only imagine -- i can't really imagine what you are going through here. the two of you already have three children, one of them adopted from ethio
and russia in november governing u.s. adoptions to russia, putting out responsibilities for both sides. so what they're saying is, let's please stick to that agreement. they're in close touch with those families, and they're hoping that at least these 50 or some odd cases should be resolved. they're asking parents that are in the pipeline, stay in touch with your adoption agency and also look at adoption.state.gov. we'll put that on our website. that's where parents can get the very latest...
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and get people off government reliance. that's candria crisp who wants what some of republicans are pushing for, saying they want more spending cuts in the legislation. i think we have time to jump in with one more. the people in congress have their form of entitlements but still end up on vacation with no work done. that's terrace hogan. one of many people complaining that congress only got back together in this respect in recent days and hasn't had this worked out a long time ago. we're going to be sharing your comments throughout the afternoon. throughout the evening. go ahead and send them and martin, we'll be back later on with more. >> congress does work for the people. maybe it's good they hear from the home office from time to time. >>> well there's only one place to spend new year's eve and that is right here with anderson cooper and kathy griffin. they've got a special preview for us. >>> restore revive rejuvenate rebuild rebuild rebuild . >>> leading our coverage from times square on new year's eve. anderson coop
and get people off government reliance. that's candria crisp who wants what some of republicans are pushing for, saying they want more spending cuts in the legislation. i think we have time to jump in with one more. the people in congress have their form of entitlements but still end up on vacation with no work done. that's terrace hogan. one of many people complaining that congress only got back together in this respect in recent days and hasn't had this worked out a long time ago. we're going...
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that's when the government reaches its legal borrowing limit. treasury can delay a debt crisis for a couple of weeks until february or march using emergency measures to keep the government operating until congress acts to fix this problem, too. >>> big news from toyota. they are announcing a record $1.1 billion settlement over that unintended accelerator issue which they say does not exist. toyota has always said it's been floor malts, stuck gas pedals and operator error but they're going to settle these cases to put it behind them. the bulk of the money will go to its customers past and present. they will install brake override systems for all vehicles identified by toyota as having a problem with the floor mats getting stuck. toyota set aside $250 million to compensate owners who sold their cars while their sales were plummeting over the bad p.r. and a separate 250 million will be used to compensate owners who don't qualify for that brake override system. finally, all 16 million current toyota owners will be eligible for a warranty on certain
that's when the government reaches its legal borrowing limit. treasury can delay a debt crisis for a couple of weeks until february or march using emergency measures to keep the government operating until congress acts to fix this problem, too. >>> big news from toyota. they are announcing a record $1.1 billion settlement over that unintended accelerator issue which they say does not exist. toyota has always said it's been floor malts, stuck gas pedals and operator error but they're...
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his decision comes at a time when rebel forces are making gains over government troops for control of syria's major cities. >>> japan's parliament has elected shinzo abe as the prime minister. he says is he okay health wise now. abe has promised to revive the economy, address japan's debt and create a recovery plan for last year's earthquake, tsunami and nuclear disaster. >>> i hope you have a gift receipt for that. shoppers expected to flood stores to return or exchange gifts they don't fit, don't want. an analyst tells "the wall street journal" 10% to 15% of holiday sales come back as sales and exchanges. >>> a bus bomb targeting. we are live from the pentagon with details. >>> his time has come again, a man from the '60s is getting a start again, lester chambers joins us back. >>> welcome back to "starting point." we've been talking about the blizzard and storm warnings from the deep south all the way to new england. we'll look at seymour, indiana, lexi sheen has drawn the short straw, she's from wlky and getting hammered. >> reporter: that's right, drew. things have calmed down. l
his decision comes at a time when rebel forces are making gains over government troops for control of syria's major cities. >>> japan's parliament has elected shinzo abe as the prime minister. he says is he okay health wise now. abe has promised to revive the economy, address japan's debt and create a recovery plan for last year's earthquake, tsunami and nuclear disaster. >>> i hope you have a gift receipt for that. shoppers expected to flood stores to return or exchange gifts...
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Dec 30, 2012
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at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's to blame? a former gang member and chicago's police superintendent join me live. >>> plus, president obama could tap this republican to lead the defense department. but not everyone wants to see a secretary hagel. why some of the loudest voices with coming from his own party. >>> and 2012 is almost history. but what's the tak
at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank...
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that's when the government reaches its legal borrowing limit. the government can operate for a few weeks using emergency measures, but congress needs to act quickly to avoid a full-blown crisis. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help manage hunger... look who's getting smart about her weight. [ male announcer ] glucerna hunger smart. a smart way to help manage hunger and diabetes. [ male announcer ] glucerna hunger smart. [music: artist: willy moon ♪ everybody well don't you know it's me now? ♪ ♪ yeah who's it, who's it huh? ♪ ♪ willy's back with a brand new beat now, ♪ ♪ yeah doin' it doin' it up! ♪ heyyy yeah, tryin' to bite my style! ♪ ♪ heyyy yeah, how you like me now? ♪ ♪ na na na na na na na na ♪ and everybody go uh! neural speeds increasing to 4g lte. br
that's when the government reaches its legal borrowing limit. the government can operate for a few weeks using emergency measures, but congress needs to act quickly to avoid a full-blown crisis. i tried weight loss plans... but their shakes aren't always made for people with diabetes. that's why there's glucerna hunger smart shakes. they have carb steady, with carbs that digest slowly to help minimize blood sugar spikes. and they have six grams of sugars. with fifteen grams of protein to help...
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pile on top of that government benefits. i'm talking about social security checks and military payments. who could forget what happens when lawmakers raised the debt ceiling last summer but not until the last minute. that caused a credit downgrade for the u.s. and a huge selloff for the market. the thing is, suzanne, it could come down to the wire once again, yet another nail-biter. suzanne? >> a >>al >> alison, it could cause a ripple effect. >> yeah, but the markets won't take that well. it's more of the saving kick the can down the road. if there's band-aid measure that goes in, that's not what the market is going to necessarily see. they want to see something stronger with the if is cal cliff and the debt ceiling as well and it seems that everything is sort of being held hostage in the whole fiscal cliff discussions and the debt ceiling has become part of that as well. suzanne. >> the president is saying he's not going to allow that to happen. there are other headlines we're keeping our eye on for this thursday. others f
pile on top of that government benefits. i'm talking about social security checks and military payments. who could forget what happens when lawmakers raised the debt ceiling last summer but not until the last minute. that caused a credit downgrade for the u.s. and a huge selloff for the market. the thing is, suzanne, it could come down to the wire once again, yet another nail-biter. suzanne? >> a >>al >> alison, it could cause a ripple effect. >> yeah, but the markets...
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that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a liquid diet an his condition is listed as guarded. his spokesman quotes him as saying i'm determined not to be dprumpy with all of this. >>> toyota has agreed to pay up in a major way, $1.1 billion to settle a class action suit over sudden acceleration issues. under the deal toyota will install a brake override system in effective cars. it will also set up a fund of $250 million for former toyota owners who sold their cars from september of 2009 through all of 2010. that money would compensate owners for their car's reduced value because of bad publicity. also toyota's a
that is when the government reaches its legal borrowing limit. now, this could pose a bigger threat to the nation's credit rating than the fiscal cliff. treasury can keep the government operating for a few weeks using emergency measures, but congress needs to act on this too to avoid a full-blown debt crisis. alina cho. joins us with the ret of the top stories. >>> former president george h.w. bush remains in intensive care in a houston hospital with an elevated fever. he is on a...
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Dec 30, 2012
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at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's to blame? a former gang member and chicago's police superintendent join me live. >>> plus, president obama could tap this republican to lead the defense department. but not everyone wants to see a secretary hagel. why some of the loudest voices with coming from his own party. >>> and 2012 is almost history. but what's the tak
at the top of that list, government spending cuts. that's about 8% to 10% in cuts to most every federal agency. also a pay cut for medicare doctors of 27% that would hit after january 1st. finally, don, there are a slew of other tax hikes. the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank...
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Dec 29, 2012
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how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a handwritten ledger. for the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest, too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense is something garcia's wife of 59 years thinks her husband could use. do you think he is crazy? >> well -- >> reporter: call him crazy. but there is an entire federal office, the bureau of public debt that collects money from hundreds of mr. garcias. this office in parkersburg, west virginia, was set up by president kennedy so citizens could pay down the national debt. this year alone it collected 7.7 million in gifts, about 90 million since it was established. but 90 million is not that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the
how much money have you sent the government? >> a little bit over $3,000. >> reporter: $3,197.88, to be exact. all tracked on a handwritten ledger. for the last three years, garcia has been paying the government $50 a month of his postal service pension and money from cans he collects. >> we are paying absolutely too much interest, too much interest. >> reporter: it really bothers you? >> it bothers me, because it makes no sense. >> reporter: sense is...
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Dec 26, 2012
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and our local governments and the state will step up and do what we need to do for our citizens. >> art faulkner, the director of the state's emergency management in alabama. we thank you for joining us. we want to get now to robert lath latham, the director of the mississippi emergency management agency. mississippi's governor has declared a state of emergency. what's the latest there, sir? >> hey, don. it looks like we've got ten counties that have been impacted from the storms last night. more than 25 injuries have been recorded in those counties. looks like we've got more than 40 homes that have sustained some type of damage, anything from minor to destroyed. several businesses have been impacted but none of the injuries are serious or life-threatening at this time. but right now, we're trying to complete our damage assessments to make sure that we're meeting the needs of the citizens with the first priority being to make sure those that have been impacted have safe and secure shelter. with the cold weather that's now entered the state. >> ten counties, 25 injuries, no deaths. 40 ho
and our local governments and the state will step up and do what we need to do for our citizens. >> art faulkner, the director of the state's emergency management in alabama. we thank you for joining us. we want to get now to robert lath latham, the director of the mississippi emergency management agency. mississippi's governor has declared a state of emergency. what's the latest there, sir? >> hey, don. it looks like we've got ten counties that have been impacted from the storms...
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that's a critical concern whether it's government officials or military officials who leave the government. suzanne. >> i want to remind our viewers what we're talking p here when we talk about syria. in the past few days we're talking about at least 365 people who have been killed on top of more than 100 people killed in an air attack sunday on a bakery. when someone like this of this high stature defects, what does this tell you about the state of the rebel forces? what does this tell you about the possibility of this thing ending anytime soon? >> reporter: the news out of syria, especially in the last few days, gets worse and worse. you have diplomatic talks going on with syria. it's the joint envoy to syria. every day the news is more horrific. each day in the last few days more than 100 people killed on each successive day including today. we hear from opposition activists and free syria army members they're gaining momentum and they're taking over more territory in and around the capital and in parts of the north of the country. it seems to suggest that assad is losing more grip on p
that's a critical concern whether it's government officials or military officials who leave the government. suzanne. >> i want to remind our viewers what we're talking p here when we talk about syria. in the past few days we're talking about at least 365 people who have been killed on top of more than 100 people killed in an air attack sunday on a bakery. when someone like this of this high stature defects, what does this tell you about the state of the rebel forces? what does this tell...